MINDSET AND ECONOMIC GROWTH: A JOURNEY OF REWIRING OUR THINKING

This week, I encountered two thought-provoking perspectives that challenged me to dig deeper into the power of mindset and its impact on our lives—and even on economies. One individual suggested that rethinking and reshaping how we see and do things as a society could be a pathway to GDP growth. On the other hand, a counterargument dismissed this notion as overly simplistic, claiming that systemic forces make such change impossible.

This debate brought a key question to the surface: How much of our success, whether as individuals or as a society—depends on the mindset? And how much can we truly change by reshaping the way we think and act?

In reflecting on these questions, I couldn’t help but recall the timeless lessons in Viktor Frankl’s Man’s Search for Meaning and Carol Dweck’s Mindset: The New Psychology of Success.

Frankl, a Holocaust survivor, emphasized that while we cannot control our external circumstances, we retain the power to choose how we respond to them. He argued that finding meaning in life—even amidst suffering—can transform despair into purpose and stagnation into growth. Frankl’s philosophy teaches us that our mindset is not just a passive observer of life but an active force that shapes our reality.

Dweck, in her groundbreaking work, introduces the concept of a growth mindset versus a fixed mindset. Those with a fixed mindset believe their abilities and intelligence are static, while those with a growth mindset see potential for improvement through effort and learning. Dweck’s research reveals that individual—and societies—can unlock transformative progress by embracing challenges, learning from failure, and viewing setbacks as opportunities rather than obstacles.

These lessons provide powerful insights into the questions I was pondering:

1.??? What is mindset? Mindset is the lens through which we see the world. It shapes our thoughts, actions, and reactions. Frankl’s perspective reminds us that mindset is also a choice deeply personal decision about how we interpret and engage with the world around us.

2.??? How is mindset built? Mindsets are cultivated through our experiences, upbringing, and cultural environment. As Dweck highlights, early feedback, whether reinforcing fixed or growth-oriented thinking—plays a critical role in shaping how we perceive our abilities and possibilities.

3.??? Can one reshape their mindset? Yes. Frankl’s work teaches us that even in the harshest conditions, the human spirit has the capacity to transcend its limitations. Dweck’s research further supports the idea that with deliberate effort and self-awareness, we can shift from a fixed mindset to a growth mindset, unlocking new levels of potential.

4.??? How can one reshape their mindset? The process begins with self-awareness. Question limiting beliefs. Challenge assumptions. Frankl’s advice to find meaning in even the smallest tasks is a powerful tool, as is Dweck’s guidance to view failure not as defeat but as a stepping stone to success. Surround yourself with individuals who inspire and challenge you and actively seek new perspectives and knowledge.

5.??? Is there value in checking our mindset? Without question. A fixed mindset limits possibilities, while a growth mindset expands them. Frankl would argue that finding meaning in this self-reflection is what gives us the strength to endure and thrive, no matter our circumstances.

6.??? How long does it take to rewire one’s mindset? As Dweck suggests, the timeline varies, but what’s critical is persistence. Incremental changes compound over time. Frankl’s insights remind us that even one small, meaningful shift can create profound internal transformation.

7.??? Can an individual’s mindset impact an economy? Yes. Frankl’s philosophy emphasizes the power of individual agency, and Dweck’s research demonstrates how a collective embrace of the growth mindset can drive innovation, creativity, and progress. When individuals shift their mindset, they inspire others to do the same, creating ripples of change that can transform families, communities, and even nations.

The debate between optimism and skepticism is a healthy one. Optimists see potential and opportunities; skeptics caution against pitfalls and challenges. Both views are necessary to move forward intelligently. But here’s the catch: without optimism, we may never take the first step toward change.

As Frankl wrote, “When we are no longer able to change a situation, we are challenged to change ourselves.” And Dweck’s work shows us how to do just that. By embracing growth, finding meaning, and taking intentional steps to reshape our mindset, we unlock the power to change not only our personal trajectory but the trajectory of society as a whole.

This week, I invite you to reflect on your mindset. Where is it holding you back? Where could it propel you forward? Remember, change begins with a single thought—and from there, the possibilities are limitless.

CPA Hillary Oonge:

Personal Effectiveness and Career Coach &

Community Manager FPKE (FinanceProfessionalsKe)&

COO and Partner -SKM Africa LLP &

Board Member at Kenya Communities Development Foundation (KCDF)

Peak Performance | Strategy | Mindset | Execution